Exemption of certain natural persons from registration under section 15B(a)(1)(B) of the Act.

  1. Law
  2. CFR 17
  3. Commodity and Securities Exchanges
  4. Securities and Exchange Commission
  5. General Rules and Regulations, Securities Exchange Act of 1934
  6. National and Affiliated Securities Associations
  7. Exemption of certain natural persons from registration under section 15B(a)(1)(B) of the Act.

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§ 240.15Ba1-3 Exemption of certain natural persons from registration under section 15B(a)(1)(B) of the Act.

A natural person municipal advisor shall be exempt from section 15B(a)(1)(B) of the Act (15 U.S.C. 78o-4(a)(1)(B)) if he or she:

(a) Is an associated person of an advisor that is registered with the Commission pursuant to section 15B(a)(2) of the Act (15 U.S.C. 78o-4(a)(2)) and the rules and regulations thereunder; and

(b) Engages in municipal advisory activities solely on behalf of a registered municipal advisor.

[78 FR 67633, Nov. 12, 2013]


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